Last $42.62 USD
Change Today +0.20 / 0.47%
Volume 510.0K
BID On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

sotheby's (BID) Snapshot

Open
$42.55
Previous Close
$42.42
Day High
$42.67
Day Low
$42.09
52 Week High
02/27/14 - $51.23
52 Week Low
10/2/14 - $34.74
Market Cap
2.9B
Average Volume 10 Days
1.0M
EPS TTM
$2.24
Shares Outstanding
69.0M
EX-Date
11/26/14
P/E TM
19.0x
Dividend
$0.40
Dividend Yield
11.12%
Current Stock Chart for SOTHEBY'S (BID)

sotheby's (BID) Details

Sotheby’s, one of the oldest auction houses in the world, is an auctioneer of various properties including fine art, antiques, decorative art, jewelry, and collectibles. The New York company’s finance subsidiary offers certain collectors and dealers financing, primarily secured by works of art. It is also involved in licensing activities. Sotheby’s dealer segment sells works of art directly to private collectors and museums and acts as a broker in private purchases and sales of art. Sotheby’s, founded in 1744, operates principally in the U.S, Britain, and China.

1,577 Employees
Last Reported Date: 02/27/14
Founded in 1744

sotheby's (BID) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $700.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $466.2K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $550.0K
Chief Executive Officer of Asia
Total Annual Compensation: $644.7K
Executive Vice President of Global Auction Tr...
Total Annual Compensation: $535.0K
Compensation as of Fiscal Year 2013.

sotheby's (BID) Key Developments

Sotheby's Announces William F. Ruprecht to Step Down as Chairman and Chief Executive Officer

The chairman and chief executive of Sotheby's is stepping down. The company said that the departure of the executive, William F. Ruprecht, was 'by mutual consent' and that he would remain in his job until his successor was found. Mr. Ruprecht, a longtime executive of the auction house and its chief for the last 14 years. Mr. Ruprecht, who joined Sotheby's in 1980, has worn many hats at the auction house. He has been an expert in its rug department, a director of marketing and a managing director. When he became chief executive in 2000.

Sotheby's Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended 30 September 2014; Provides Effective Income Tax Rate Guidance for the Year 2014

Sotheby's announced unaudited consolidated earnings results for the third quarter and first nine months ended 30 September 2014. For the quarter, the company reported total revenues were $94,201,000 against $107,864,000 a year ago. Operating loss was $37,469,000 against $34,361,000 a year ago. Loss before taxes was $44,167,000 against $41,860,000 a year ago. Net loss was $27,698,000 against $30,131,000 a year ago. Net loss attributable to company was $27,726,000 against $30,131,000 a year ago. Basic and diluted loss per share was $0.40 against $0.44 a year ago. Adjusted pre-tax loss was $34,051,000 against $41,860,000 a year ago, principally due to a lower level of expenses, largely attributable to management's continued cost reduction initiatives. The third quarter is always a slow quarter at Sotheby's due to the seasonality of the global art auction business. On an after-tax basis, the company’s third quarter results improved by $2.4 million (8%) as a result of a higher income tax benefit recorded in the quarter due to an increase in Sotheby's annual effective income tax rate. For the third quarter, adjusted net loss is $20.6 million and adjusted loss per share is $0.30. The adjusted net income numbers exclude restructuring and special charges. For the nine months, the company reported total revenues were $586,829,000 against $514,477,000 a year ago. Operating income was $97,053,000 against $77,640,000 a year ago. Income before taxes was $72,874,000 against $48,847,000 a year ago. Net income was $44,052,000 against $39,253,000 a year ago. Net loss attributable to company was $43,792,000 against $39,253,000 a year ago. Diluted earnings per share were $0.61 against $0.57 a year ago. Adjusted pre-tax income was $107,247,000 against $48,847,000 a year ago. The company achieved a 120% increase in adjusted pre-tax income and a 49% increase in pre-tax income for the nine months ended September 30, 2014. This improvement is principally due to the performance of the Agency segment, which reported an increase in gross profit of $48.9 million (12%) for the period. On an after-tax basis, company’s year-to-date results improved $4.5 million (12%), as the improvement in pre-tax income was partially offset by an increase in Sotheby's effective income tax rate. Adjusted net income was $64.3 million, and adjusted diluted EPS is $0.91, in comparison to $39.3 million or 0.57 per diluted share a year ago. Management estimates that Sotheby's annual effective income tax rate for 2014, excluding discrete items, will be approximately 38%. In 2013, Sotheby's annual effective income tax rate, excluding discrete items, was approximately 30%.

Sotheby's Declares Fourth Quarter 2014 Dividend, Payable on December 15, 2014

The Board of Directors of Sotheby's has declared a quarterly dividend of $0.10 for the fourth quarter of 2014. The fourth quarter dividend is payable on 15 December 2014 to shareholders of record as of 1 December 2014.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
BID:US $42.62 USD +0.20

BID Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Jones Lang LaSalle Inc $151.75 USD -0.65
Realogy Holdings Corp $43.31 USD -0.12
Scholium Group Plc 82.25 GBp 0.00
Spectrum Group International Inc $534.00 USD -3.00
View Industry Companies
 

Industry Analysis

BID

Industry Average

Valuation BID Industry Range
Price/Earnings 22.1x
Price/Sales 3.2x
Price/Book 3.5x
Price/Cash Flow 18.9x
TEV/Sales 1.7x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact SOTHEBY'S, please visit www.sothebys.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.